06.11.2019
The pair has formed a double top reversal pattern and the price is at the level of the "neck" line. If the demand for risky assets remains strong, the pair will complete this pattern by dropping further.
The price is below the middle Bollinger band, at SMA 5, but below SMA 14. RSI is located on the oversold zone line and moves horizontally. Stoch are also in oversold zone and uninformative.
Trading recommendations:
The price decline and its consolidation below 1.1075 will lead to the resumption of the pair's drop to 1.1000.
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